Celsius Network

Celsius Network

How to register?

Celsius Network is a CeFi platform that offers crypto savings accounts and crypto loans. Founded in 2017, the company is an early pioneer of crypto-lending and offers some of the industry's most attractive interest rates.

Savings Accounts
43
Collateral
33
Loans
Transparency
Jurisdictions
200+
Languages
EN
CeFi/DeFi
CeFi
Business Accounts

Pros

  • High base rates on crypto savings accounts compared to other platforms Savings
  • High maximum interest rates on crypto savings accounts compared to other platforms Savings
  • Celsius Network promises to "match the quote" if a borrower finds a comparable but cheaper loan offer from another provider Loans
  • Registered with the US Securities and Exchange Commission Security
  • Only one loan was liquidated during the crypto flash crash in March 2020 Loans
  • Large selections of cryptocurrencies Savings
  • CEO Alex Mashinsky has a strong entrepreneurial track record Business
  • No transfer and withdrawal fees Experience
  • Proof of Reserve shows the total assets locked on the platform Security
  • The Celsius App displays a security score that allows users to check their security settings and provides suggestions on how to improve account security Security
  • Users receive an emal alert when logging into their accounts Security
All pros

Cons

  • It is not stated clearly on the website, that the maximum interest rates are based on a platinum membership AND interest payouts in CEL Tokens Savings
  • The app is only available in English language Experience
  • It is not possible to earn interest in CEL tokens in the US Experience
  • The maximum interest differs depending on where the investor is based. US users get another rate than international investors, mainly because US-based investors cannot earn in CEL tokens. Maximum Interest
All cons

The interest rates at Celsius Network

ETH
ETH
CEL
CEL
BTC
BTC
SNX
SNX
MATIC
MATIC
USDT
USDT
TUSD
TUSD
DAI
DAI
USDC
USDC
PAX
PAX
GUSD
GUSD
BUSD
BUSD
UMA
UMA
UNI
UNI
DASH
DASH
BAT
BAT
LTC
LTC
ZRX
ZRX
BCH
BCH
BSV
BSV
LINK
LINK
PAXG
PAXG
XAUT
XAUT
EOS
EOS
XRP
XRP
ZEC
ZEC
MANA
MANA
OMG
OMG
XLM
XLM
ETC
ETC
KNC
KNC
THKD
THKD
TCAD
TCAD
TGBP
TGBP
TAUD
TAUD
COMP
COMP
AAVE
AAVE
BNT
BNT
DOT
DOT
WDGLD
WDGLD
ZUSD
ZUSD
BNB
BNB
LUNA
LUNA
Basic
Max
5.3%
6.3%
4.9%
4.9%
4.4%
6.2%
14%
17.8%
14%
17.8%
8.9%
11.2%
8.9%
11.2%
8.9%
11.2%
8.9%
11.2%
8.9%
11.2%
8.9%
11.2%
8.9%
11.2%
4.5%
5.7%
2.5%
3.1%
5.5%
6.9%
3.5%
4.4%
4.1%
5.1%
3.5%
4.4%
4.5%
5.7%
2%
2.5%
5.5%
6.9%
5.5%
6.9%
4.5%
5.6%
2.5%
3.1%
2%
2.5%
2%
2.5%
2%
2.5%
3.1%
3.9%
3%
3.8%
2.5%
3.2%
8.9%
11.2%
8.9%
11.2%
8.9%
11.2%
8.9%
11.2%
4.6%
5.8%
5.9%
7.4%
5.5%
6.9%
8.9%
11.2%
5.5%
6.9%
8.9%
11.2%
6.7%
8.5%
5.1%
6.3%
Basic
Max
3%
8.5%
4.9%
4.9%
3.1%
8.5%
7.4%
17.8%
14%
17.8%
6.1%
14%
6%
14%
6.6%
14%
6.4%
14%
7%
14%
6.9%
11.2%
5.2%
11.2%
4.5%
5.7%
1.5%
5%
5.5%
6.9%
1.5%
5%
2.6%
8%
3.5%
4.4%
3%
8%
2%
2.5%
2.6%
8%
5.5%
6.9%
3%
8%
3.2%
8%
2%
2.5%
0.8%
5%
1.3%
5%
2.5%
8%
3%
3.8%
1.1%
5%
8.9%
11.2%
7.4%
14%
7.4%
14%
7.4%
14%
2.5%
5.8%
3%
7.4%
3%
6.9%
4.5%
11.2%
5.5%
6.9%
8.9%
11.2%
3.7%
8.5%
5.1%
6.3%

Community-driven approach

Celsius Network offers a wide range of options for crypto lenders and borrowers and is often mentioned as an industry leader within the crypto community. The founder of the company, Alex Mashinsky, is a serial entrepreneur with an impressive track record in the United States. Celsius Network is registered with the US Securities and Exchange Commission and subject to strict supervision, meaning the company is legit and safe. The company philosophy themed 'Unbank Yourself' puts the customer first and emphasizes community building, safety, and transparency.

Celsius Network

A community-driven company with a vision

Celsius Network in the CryptoStudio-Check

  • Overview
  • Savings Accounts
  • Crypto Loans
  • Security
  • User Experience
  • Business Review
Overview
Platform Score
based on 5 categories
Search icon Savings Accounts
based on 9 criteria
Search icon Crypto-Loans
based on 10 criteria
Search icon Security
based on 8 criteria
Search icon User Experience
based on 13 criteria
Search icon Business Review
based on 5 criteria

Pros

High base rates on crypto savings accounts compared to other platforms

Savings

High maximum interest rates on crypto savings accounts compared to other platforms

Savings

Celsius Network promises to "match the quote" if a borrower finds a comparable but cheaper loan offer from another provider

Loans

Registered with the US Securities and Exchange Commission

Security

Only one loan was liquidated during the crypto flash crash in March 2020

Loans

Large selections of cryptocurrencies

Savings

CEO Alex Mashinsky has a strong entrepreneurial track record

Business

No transfer and withdrawal fees

Experience

Proof of Reserve shows the total assets locked on the platform

Security

The Celsius App displays a security score that allows users to check their security settings and provides suggestions on how to improve account security

Security

Users receive an emal alert when logging into their accounts

Security

Cons

It is not stated clearly on the website, that the maximum interest rates are based on a platinum membership AND interest payouts in CEL Tokens

Savings

The app is only available in English language

Experience

It is not possible to earn interest in CEL tokens in the US

Experience

The maximum interest differs depending on where the investor is based. US users get another rate than international investors, mainly because US-based investors cannot earn in CEL tokens.

Maximum Interest
Savings Accounts
Rating:
Search icon Currencies:
43: ETH, CEL, BTC, SNX, MATIC, USDT, TUSD, DAI, USDC, PAX, GUSD, BUSD, UMA, UNI, DASH, BAT, LTC, ZRX, BCH, BSV, LINK, PAXG, XAUT, EOS, XRP, ZEC, MANA, OMG, XLM, ETC, KNC, THKD, TCAD, TGBP, TAUD, COMP, AAVE, BNT, DOT, WDGLD, ZUSD, BNB, LUNA
Search icon Fiat Savings Accounts:
No
Search icon Base Rate:
4.4% for BTC, 5.3% for ETH, 8.9% for USDT
Search icon Maximum Interest:
Investors only get the maximum rate if they choose to receive their interest payments in CEL tokens AND if they have a Celsius membership which they get by holding a certain percentage of their portfolio funds in CEL tokens. Celsius offers the following membership options: Bronze (5-10% in CEL, 5% bonus interest) Silver (10-15% in CEL, 10% bonus interest) Gold (15-25% in CEL, 15% bonus interest) Platinum (>25% in CEL, 25% bonus interest). For BTC, the maximum rate is 6.20%, for ETH 6.35% and for USDT 11.21%. For many coins, US-based investors cannot get the same maximum rates as international investors, as they can't earn in CEL tokens for regulatory reasons.
Search icon Lock-up Periods:
Flexible
Search icon Minimum Deposit:
No minimum deposit
Search icon Compound interest:
Weekly payout (on mondays) and weekly compound interest
Search icon Withdrawal Limits:
150,000 USD within 24h
Search icon Currency of Interest Payments:
Investors can choose to receive their interest payments in-kind (same as deposit currency) or in CEL token. Receiving interest in CELt oken enables investors to get a higher interest rate.
Crypto Loans
Rating:
Search icon Maturity:
6, 12 ,24 ,or 36 months
Search icon Minimum Loan:
500 USD
Search icon Maximum Loan:
1 million USD
Search icon Loan currency:
Fiat & Crypto
Search icon Accepted Collateral:
33
Search icon Loan Liquidation:
There is a Margin Call at 65% and the liqudiation treshold is at 85%. Liqudiation will bring the assets down to the level agreed in the contract.
Search icon Stress Test March 2020:
During the flash crash in March 2020, unlike many other lending platforms, Celsius only liquidated one loan.
Search icon Base Rate:
8.95% for BTC-secured loans and 8.95% for ETH-secured loans
Search icon Minimum Interest:
Celsius offers lower rates if borrowers choose a lower LTV and have a Celsius membership. The minimum rate currently stands at 0.70% for BTC-secured loans and 0.70% for ETH-secured loans. To become a Celsius member, borrowers need to hold a certain percentage of the loan amount in CEL tokens and pay their interest in CEL tokens. The following memberships are available: Bronze (5%-10% in CEL, 5% discount) Silver (10-15% in CEL, 10% discount) Gold (15-20% in CEL, 20% discount) Platinum (>20% in CEL, 30% discount).
Search icon Loan to Value Ratio:
25%, 33%, 50%
Security
Rating:
Search icon Withdrawal Speed:
150,000 USD within 24h
Search icon Regulations:
Regulated by US authorities
Search icon Team Transparency:
Founder and CEO Alex Mashinsky is very visible online, gives interviews and presentations, and answers community questions.
Search icon Crypto-Custody:
Celsius' custodians are Fireblocks and PrimeTrust.
Search icon Security Settings:
Celsius offers most industry standard security settings such as 2-factor-authentication and adress whitelisting
Search icon Terms & Conditions:
Celsius has the right to use the assets deposited by savers or borrowers for investment purposes. That includes giving loans to third parties
Search icon Data Transparency:
Proof of Reserves shows AuM per Coin, Celsians.com publishes the number of active users and AuM
Search icon Security Hacks:
There are no reports about any successful security hacks
User Experience
Rating:
Search icon Account Opening:
Fast and straightforward, takes less than 5 minutes
Search icon Business Accounts:
Yes
Search icon Mobile App:
Android and iOS, can be used as a standalone App
Search icon Desktop App:
Yes, but loan applications are not yet possible on the desktop version
Search icon Wallet Admin:
Yes, but loan applications are not yet possible on the desktop version
Search icon Reporting:
Wallet history available as CSV download
Search icon Coin-Reporting:
Celsius Network provides a reporting in the respective cryptocurrency and in US dollar
Search icon Look & Feel:
Well-designed app and easy to use
Search icon Customer Service:
Chat support, comprehensive FAQ
Search icon Interest Rate Transparency:
The website does not clearly explain the interest rate policy, because the displayed rates are based on investors holding part of their assets in CEL tokens. Without holding these CEL tokens, the actual interest rates will be lower than the rates displayed on the website
Search icon Countries:
200+
Search icon Fees:
Celsius does not charge any fees
Search icon Languages:
EN
Business Review
Rating:
Search icon Financing:
Celsius raised $50 million with an ICO in 2018 and another $20 million through a crowdfunding campaign in 2020
Search icon CEO Track Record:
CEO and founder Alex Mashinsky has founded several technology companies in the US and led them to success. He is considered one of the pioneers of the Voice-over-IP protocol
Search icon Assets under Management:
> 3bn USD, Celsius publishes this data transparently and daily in its App. Chainalysis has conducted an audit and confirmed this AuM
Search icon User Base:
About 250,000 users. The data is provided transparently in the app
Search icon Community Interaction:
Participates heavily in the public discussion online and provides transparent answers to CryptoStudio's inquiries
Celsius Network

User-friendly mobile App and efficient customer support

Celsius Look & Feel

Celsius Network offers a comprehensive App with a modern design. The wallet administration and reporting are user-friendly and customer support answers queries quickly and thoroughly. The app is available as a desktop version and on Android and iOS. English is the only language option.

Registration process

Registering with Celsius Network is easy and straightforward and takes only a few minutes.

Step 1

Celsius Network is available for desktop, still you first need to download the mobile app for Android (APK) or iPhone (iOS) to your smartphone.

Step 2

Click on "Join Celsius" and create a user account. You will need an identification document, for example, your ID Card or driver's license.

Step 3

Use our referral code to support our work and to benefit from Celsius' promotions.

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